Creating Your Own Successful Bitcoin Business-Part 27

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Author : My Dirty Little Bitcoin Secrets PDF EBook by Ofir Beigel

How much is enough, well it depends, I usually use 300 as a rule of thumb, but the more samples the better. If you can get to 500 or even 1,000 that’s great. A/B testing – When you don’t know what will work better. One form of testing I want you to be familiar with although we probably won’t talk about it that much is A/B testing. A/B testing (sometimes called split testing) is comparing two versions of a web page to see which one performs better. You compare two web pages by showing the two versions (let’s call them A and B) to similar visitors at the same time. The one that gives a better conversion rate, wins! There are a lot of A/B testing tools out there that help you create the different versions and measure the results. This is used when you want to test which image works better on a sales page for example or any other element of the page for that matter. We probably won’t use it that much in the course of this book but I just wanted you to be familiar with the term in case you encounter it. Tracking tools you should know about. So now that I gave you an overview of how tracking on the web looks like, here are a few tools you can use on your website to help you track better. Keep this list as a reference and decide which tools you want to implement after creating your MVP in the next chapter. If you’re new to creating your own website then Google Analytics is probably the only tool you’ll need to implement. Google Analytics. A must for every website, supplies you with the basics of online tracking.

Suitable for beginners and advanced users. MixPanel. A more sophisticated platform than Google Analytics which also fits mobile apps. This is a paid platform and is more suitable for advanced users. CrazyyEgg. Allows you to see a heat map of your site. The heat map shows you where users look at and click the most. This is a paid tool. Visual Website Optimizer. A great A/B testing tool that offers a free trial. Optimizly. Another great paid A/B testing tool. After all that planning and talking we’ve finally made it, we’re actually going to build something! Are you as excited as I am? We’re going to build our MVP so we can also prove our assumptions in practice and not just in theory. After we launch our MVP and test it we will have a final “go/no-go” and decide if the complete product should be built. If you did your assignments you should by now have a general feeling about which idea seems most profitable to follow through on. Now it’s time to start building our MVP. If you remember, we said an MVP is basically the leanest version of our product possible that still adds some sort of value to our user. Here are some examples of MVPs you may already have heard about. Facebook. If you compare Facebook’s original version to what it is today you probably get an idea of what an MVP should look like. The original site lacked any good design, cool features like sharing or posting statuses and only allowed people to see who is in their personal social network. Virgin Air. Virgin Air started with just one plane flying between two locations.

It delivered on it’s most core value proposition. After testing the concept and improving the offering they expanded their fleet. Zappos. Zappos is an ecommerce site where people can buy shoes online. To test their value proposition, they took pictures of shoes at local stores, posted the pictures online, put them up for sale on their site, and when customers purchased the shoes, the company would buy them from the stores at full price and ship them to their customers. Craigslist. I think one of the best examples is a website that kind of still looks like an MVP and proves the point that if you deliver your core value well you don’t need anything else. Craigslist is considered to be the 60th largest website on the web17. All it does is let you post up and view classified ads in a not-so-beautiful way. So think about your idea for a moment; what would it be in its most basic form? How will it look if it could do one thing and one thing only. This is how you should design your MVP. Why design a complete product when you can just build its core function and only if it proves all three assumptions move on. 17 http://www.alexa.com/siteinfo/craigslist.org#trafficstats. When I started 99Bitcoins I didn’t even have a website. I mean think about it, my assumption were that if I create a written guide on how to buy Bitcoins with PayPal people will sign up for my recommended exchange. Do I really need to put up a website for that? Heck no! I just wrote a “Facebook note” on my Facebook profile and used it as my MVP.

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